Gold - Intraday - We look to Buy a break
Buying pressure from 1895 resulted in prices rejecting the dip.
We are trading at oversold extremes.
This is positive for sentiment and the uptrend has potential to return.
The hourly chart technicals suggests further upside before the downtrend returns.
Further upside is expected, however, due to the strong resistance above we prefer to buy a break, which will confirm the bullish sentiment.
Our profit targets will be 1927 and 1992
Resistance: 1927 / 1992 / 2075
Support: 1849 / 1763 / 1689
Buying pressure from 1895 resulted in prices rejecting the dip.
We are trading at oversold extremes.
This is positive for sentiment and the uptrend has potential to return.
The hourly chart technicals suggests further upside before the downtrend returns.
Further upside is expected, however, due to the strong resistance above we prefer to buy a break, which will confirm the bullish sentiment.
Our profit targets will be 1927 and 1992
Resistance: 1927 / 1992 / 2075
Support: 1849 / 1763 / 1689
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Target of 1927 has been reached!
